What Is zipPay
zipPay is a payment method which allows your customers to buy now and pay later. It provides flexibility to your customers by allowing them access to a digital wallet up to $1000, enabling them to shop both online and in-store and check out with a full repayment term. This transaction happens interest-free.
How It Works
Zip settles all the transactions into your nominated bank account on the same-day of purchase and also takes responsibility for all credit and fraud risks. While merchants get their payment within the same day, you are not responsible for collecting any consumer payments or defaults. zipPay collects the repayments back from the customer over time.
Merchants pay one small flat fee per transaction, so you only pay when you sell. zipPay doesn’t require any setup fee or monthly charges.
Why Should I Integrate To It?
With an average 45% increase in basket size – up to 200% in some cases – Zip allows a customer to make a much larger transaction than they would have perhaps done so with other payment methods. Flexible, interest-free repayments on a customer’s own terms mean a shopper is 50% more likely to choose Zip at the checkout next time they shop with one of the 4,000+ retailers. With over half a million people who are using zipPay, Zip’s shopper network can bring about an 80% increase to order value, and a 30% jump in sales.